What's the Real Value of an Economic Moat?
Morningstar's Pat Dorsey on why it's worth paying up a little bit for a wide moat business versus a no moat business.
Pat Dorsey: Hi, I am Pat Dorsey, director of equity research at Morningstar.
As those of you who are familiar with Morningstar's equity research probably know, we are big fans of what we think of as competitive advantage or economic moats in the way we look at stocks here at Morningstar.
Pat Dorsey does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.